私人退休储蓄税收激励下的收入与储蓄反应

中文摘要

许多政府为退休缴费提供税收优惠。本文表明，收入反应对于理解其在增加退休储蓄和缓解人口老龄化财政压力方面的有效性至关重要。利用税务登记数据，我们研究了澳大利亚对享受税收优惠的个人退休账户缴费上限的重大调整。我们发现，提高上限显著增加了退休缴费，且该反应中约有三分之二由劳动收入增加所支撑。由此带来的所得税收入增长抵消了税收优惠造成的财政损失，凸显了将收入与劳动供给反应纳入考量的重要性。

Abstract

Many governments offer tax concessions for retirement contributions. In this paper, we show that income responses are crucial for understanding their effectiveness in raising retirement savings and alleviating the fiscal pressures of population aging. Using tax register data, we study large changes in caps on tax-favored contributions to individual retirement accounts in Australia. We find that higher caps increase retirement contributions considerably, with around two-thirds of this response financed by increases in earned income. The resulting gain in income tax revenue offsets the fiscal loss from tax concessions, highlighting the importance of taking income and labor supply responses into account.